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Search Results 0 to 9 of about 10 (some duplicates have been removed)
. for two reasons, ali. first of all, president obama is in the sweet spot of his presidency, the moment of maximum leverage that occurs for a president right after re-election. basically around 18 months at the start of a second term where a president can push through almost anything he wants. second of all, he's positioned to pull a nixon in china. just as only a committed anti-communist like nixon could go to china, someone like a pragmatic aggressive like president obama could appeal to his base and still get tough entitlement cuts through as part of a grand bargain. this is a moment of rare opportunity but it takes presidential leadership and that, frankly, has been lacking. >> one approach that republicans have put forward is the idea of a balanced budget amendment. >> the real cause of our debt is that our government has been spending $1 trillion more than it takes in every year. that's why we need a balanced budget amendment. >> republicans, margaret, are not blameless in this, bush era tax cuts, wars in afghanistan and iraq are major drivers. the spending cuts that a balanced bu
president obama's bipartisan fiscal commission back in 2010. remember the plan that got thrown under the bus. well, the new plan highlights cuts to the deficit of $2.4 trillion over the next decade. it gets there by raising $600 billion in new tax revenue, cutting $600 billion from medicare and medicaid and $1.2 trillion over ten years in additional spending cuts. diane swonk is chief economist at mesereau financial. alice rev lin was a member of the president's debt commission and is a senior fellow at the brookings institution. michael tanner is a senior fellow at the cato institute. thanks for being here. michael, you say we should not fear door number one. that is the forced budget cuts, what some people know as the skweser, as it stands, which goes into place on friday if we don't do anything. why? >> well, let's remember that first of all these are cults only in the washington sense that any reduction from future planned increases in spending is a cut. the reality is even if the sequester goes into effect, the federal government will spend more every year. by 2022 it will spend $2 tril
simpson who chaired president obama's bipartisan fiscal commission in 2010. the plan that got thrown under the bus. the new plan highlights cuts to the deficit of $2.4 trillion over the next decade. it gets there by raising $600 billion in new tax revenue. cutting $600 billion from medicare and medicaid. and $1.2 trillion over ten years, in additional spending cuts. diane swonk is the chief economist at. michael tanner is a senior fellow at the cato institute. welcome to all of you. michael, let me start with you, you say we should not fear doorm number one. the budget cuts, the sequester, why? >> well let's remember first of all, these are cuts only in the washington sense that any reduction from future planned increases in spending is a cut. the reality is, even if the sequester goes into effect, the federal government will spend more every year by 2022, it will spend $2 trillion more than it is spending today. we're talking about cuts that are 2.4% of total federal spending. if the federal government can't cut three cents out of every dollar without throwing us into the dark ages, then
obama says he wants a big deal on budgets and debt. he won the battle for public opinion. he won a second term while congressional approval continues to be super low. is there something more he could be doing to end the small thinking about big problems that has become the norm in our nation's capital? >> he still wants the grand bargain he's been talking about for several years. this past week he came out and said we need another temporary fix. the term sequester is essentially a fancy word for the president and congress not doing their jobs. you laid it out pretty clearly. the president is late submitting his own budget. so he's part of the problem, too. but he does have the upper hand in the public opinion right now. but republicans are very wary. they think the president just wants more revenue and modest cuts, but he won't do the big structural things to medicare, to social security that are necessary for any part of grand bargain. we're in the game of chicken. another thing is happening, pollsters say every time we do this, consumer confidence starts to go down and consumer
Search Results 0 to 9 of about 10 (some duplicates have been removed)